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Still the Wind and Biomass power projects need government support at the cost of Suicide of Farmers or poor people to whom the Natural resource belongs, but, look at the apathy, how Government has transferred these assets already by paying Rs. 100 crore more that the invested money of Rs. 3250 Crore !!! A kind of hindsight with a future vision for awakening the Policy makers and the stake holders !!On what basis did they install 500 MW Biomass projects (without accounting the assured biomass supply with cost escalations) and sucked the Capital Subsidy and how these projects were certified? Apart from the loot of Capital subsidy, these companies have already taken Accelerated Depreciation (i.e they did not pay Corporate Tax with this provision in law). So, how much more free money they want from the poor farmers (i.e through Government as agents)?
1. MW x rs. 6.5/mw = Rs. 3250 Crore invested.
Capital Subsidy of 1.5 cr/MW = 500 x 1.5 = Rs. 750 Cr already taken back from the Government or the poor farmer or people of TN.
PLUS the Accelerated Depreciation of 80% of investment = 500 x 6.5 x 0.8 = Rs. 2600 Crore is not paid in the form of Corporate Taxes i.e State become poor by Rs. 2600 Crore (without job creation as many of them are not functioning, so the defeat of these sops or the purpose of economic development!! of a neither Socialist Country nor Capitalist Country, but, loot persisted and is persisting as the Wind sector is still wanting to avoid paying taxes through AD, which is removed!!).....
Please take note of irony that the total amount invested for 500 MW Biomass power plant is Rs. 3250 Crore, the Benefits out of the Government is ( 2600 + 750 = 3350 Crore) which means the Government funded the entire projects with an excess of Rs. 100 Crore, but, someone else owns the property, no cheap power (if it were to be a government project, the assets would have been in the Government name at least and the power could have been generated with lots of jobs !!!)
Look at the way how Indians are shining as FOOLS and FOOLS forever with these kinds of policies and benefits for few lobbyists or Entrepreneurs?? Is this Economy or Pseudo Economy with Wizards sitting at the helm of affairs that too qualified in Wharton, Cambridge, Oxford, IIM or you name any networking institutions for literacy, you find them, but, what is the use of this education when the COUNTRY FIRST culture does not exist??
Is it not the time to take back / demand these Promoters of these non functioning projects to pay back the Capital Subsidy and the Tax saved through AD mechanism??